Classical economics would suggest that as the price falls supply falls until a new equilibrium is reached where supply equals (paying) demand. If piracy and discounting continue as implied and drive the price of new fiction down there must come a point where the price is so low that authors stop producing new works.*
I wonder what then happens to the price of new works and how the structures of supply might change. For example might authors might become paid employees of Amazon, hired to produce new works for Amazon to stream to its customers
Are there suffient works already in existence that new fiction is almost unnessary? When I draw up my list of books that I would like to read this year many of them are avaible on Kindle etc for free. I could fill a lifetime of reading with free books.
*This wouldn’t be all authors all the time. Some might authors might want the aclaim or to satisfy their own need to write. Some might be independently wealthy or retired with a pension.
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I wonder what then happens to the price of new works and how the structures of supply might change. For example might authors might become paid employees of Amazon, hired to produce new works for Amazon to stream to its customers
Are there suffient works already in existence that new fiction is almost unnessary? When I draw up my list of books that I would like to read this year many of them are avaible on Kindle etc for free. I could fill a lifetime of reading with free books.
*This wouldn’t be all authors all the time. Some might authors might want the aclaim or to satisfy their own need to write. Some might be independently wealthy or retired with a pension.